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20110716
20110716
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FOX News
Jul 16, 2011 12:00pm PDT
we don't make big cuts. >> john: if you can't pay workers' salaries. what is our future going to be? cuts so draconian you need a chainsaw to make them or sweat shops. we have choices to make. >> john: our government keeps spending. we're already $14.5 trillion in debt but you could say, so what. look around, america is doing pretty well. what is the worst that can happen? >> well, this could happen. these protests happened when greece with was so far in debt they had trouble borrowing money. an economist at the mercada center, she says greek riots is just the most visible. >> greeks still go on and they still serve. >> if you wanted to borrow money for a house or car, the interest rates will be dramatically high. >> greece spends so much by last year they owed more money than their entire economy produced. no wonder they are in trouble. we won't reach that level of debt until, oops, pretty soon. we're on a clear track to a greece type crisis. >> when there is no more money, there is just no more money. >> john: the federal government can print money. >> federal government can print
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